Argentine Default Drama Nears Critical Stage

TODAY: July 28, 2014 PUB DATE: July 28, 2014

By Taos Turner and Ken Parks BUENOS AIRES--Argentina could make unfortunate history this week if it defaults on its foreign debt for the second time in 13 years as a showdown with creditors comes to a head. When Argentina last ...

Berlin Prepares for Russia Sanctions

TODAY: July 28, 2014 PUB DATE: July 28, 2014

BERLIN--German leaders sought to prepare the public for the consequences of sanctions against Russia ahead of a week in which the European Union is expected to escalate its economic response to the crisis in Ukraine. Ministers in Chancellor Angela Merkel's ...

Fujitsu Looking at First April-June Operating Profit

TODAY: July 28, 2014 PUB DATE: July 28, 2014

TOKYO -- Fujitsu is expected to post a group operating profit of slightly more than 5 billion yen ($48.6 million) for the April-June period. It will be the company's first April quarter profit in a while, the Nikkei reported Sunday. ...

Berlin Prepares for Russia Sanctions -- Update

TODAY: July 28, 2014 PUB DATE: July 28, 2014

By Andrea Thomas BERLIN--German leaders sought to prepare the public for the consequences of sanctions against Russia ahead of a week in which the European Union is expected to escalate its economic response to the crisis in Ukraine. Ministers in ...

Danone May Sell Medical Nutrition Unit to Hospira -- FT

TODAY: July 28, 2014 PUB DATE: July 27, 2014

Danone S.A. (DANOY, BN.FR) is in talks to sell its medical nutrition unit to Hospira Inc. (HSP), The Financial Times reports Sunday citing people familiar with the situation. According to the report, Hospira would acquire the unit in an almost ...

India Blocks WTO Agreement to Ease Trade Rules

TODAY: July 28, 2014 PUB DATE: July 27, 2014

By Eric Bellman and Peter Kenny GENEVA--India effectively blocked an international agreement on easing trade regulations last week, saying the effort to promote global trade should be linked to food security. At a meeting of the World Trade Organization in ...

Berkshire Energy's AltaLink Buy Clears First Hurdle

TODAY: July 28, 2014 PUB DATE: July 26, 2014

Berkshire Hathaway Energy's application to buy SNC-Lavalin Group Inc.'s AltaLink power transmission unit has received preliminary approval, Canadian Industry Minister James Moore said, noting the deal still needs approval from the Alberta Utilities Commission. The 3.2 billion-Canadian-dollar ($2.92 billion) deal ...

Germany Calls for Swift Sanctions On Russia After Downing of MH17 -Report

TODAY: July 28, 2014 PUB DATE: July 26, 2014

By Andrea Thomas BERLIN--German Foreign Minister Frank-Walter Steinmeier called for the swift implementation of sanctions against sectors of the Russian economy, signaling that the downing of a Malaysia Airlines jet in eastern Ukraine and Moscow's insufficient support of the Ukraine ...

EU Lines Up Sector-Wide Economic Sanctions on Russia -- Update

TODAY: July 28, 2014 PUB DATE: July 26, 2014

By Laurence Norman and Matthew Dalton BRUSSELS--Europe is coalescing behind a plan to impose wider economic sanctions on Russia as early as Tuesday, European Union officials said Friday. The movement came after a meeting of ambassadors from EU member states ...

IMF Urges Ukraine to Honor Emergency Funding Obligations

TODAY: July 28, 2014 PUB DATE: July 26, 2014

By Ian Talley WASHINGTON--The International Monetary Fund has urged Ukraine's fragile government to honor its bailout obligations, a sign the fund is concerned a breakdown in the country's coalition could jeopardize its emergency financing package. Ukraine's ruling coalition broke up ...

U.K. Output Rises 0.8% in Second Quarter, Passing Precrisis Peak

TODAY: July 28, 2014 PUB DATE: July 25, 2014

By Jason Douglas and Nicholas Winning LONDON--Britain's economy finally overtook its prerecession peak in the second quarter, official estimates showed Friday, more than six years after a global banking crisis caused a sharp downturn. The Office for National Statistics said ...

Russian Markets Shrug Off Interest Rate Rise

TODAY: July 28, 2014 PUB DATE: July 25, 2014

By Josie Cox and Chiara Albanese Russian markets showed only a muted reaction to the central bank's decision to raise interest rates for the third time in five months Friday, even though the move was largely unexpected. Economists and strategists ...

Oil Futures Rangebound, Nymex Crude Trades Flat

TODAY: July 28, 2014 PUB DATE: July 25, 2014

By Eric Yep Crude-oil futures moved in a narrow price range in Asian trade Friday after dropping overnight on high stockpiles of gasoline in the U.S. and as markets await tighter sanctions against Russia. On the New York Mercantile Exchange, ...

Brazil's Consumer Confidence Increases in July

TODAY: July 28, 2014 PUB DATE: July 25, 2014

By Rogerio Jelmayer SAO PAULO--Brazil's main consumer confidence index rose for the second consecutive month in July, due to signs of slowing inflation and the positive effects of the World Cup, the Getulio Vargas Foundation, or FGV, said Friday. FGV ...

Euro-Zone Private-Sector Lending Improves Slightly

TODAY: July 28, 2014 PUB DATE: July 25, 2014

FRANKFURT--Private-sector lending improved somewhat in the euro zone in June though it remained below year-ago levels, the European Central Bank said Friday, suggesting that credit conditions are slowly starting to improve which may in turn boost the region's economic growth ...

Indonesia President Approves New Contract Terms With Freeport -Minister

TODAY: July 28, 2014 PUB DATE: July 25, 2014

By Linda Silaen and Deden Sudrajat JAKARTA, Indonesia--Indonesia approved new mining-contract terms for PT Freeport Indonesia Friday, according to government officials. The new contract was agreed to by President Susilo Bambang Yudhoyono. It is expected to be signed Friday by ...

EU Lines Up Sector-Wide Economic Sanctions on Russia -- Update

TODAY: July 28, 2014 PUB DATE: July 25, 2014

By Laurence Norman and Matthew Dalton BRUSSELS--European nations are coalescing behind a plan to impose wider economic sanctions on Russia as early as Tuesday, a top European Union official said Friday. The movement came after a meeting of ambassadors from ...

MARKET SNAPSHOT: U.S. Stocks Open Lower; Dow Falls Below 17,000

TODAY: July 28, 2014 PUB DATE: July 25, 2014

By Anora Mahmudova and Barbara Kollmeyer, MarketWatch NEW YORK (MarketWatch) -- The U.S. stock market opened lower on Friday, weighed down by disappointing reports from companies such as Amazon.com and Visa Inc. Nonetheless, the main benchmarks were on track to ...

State Department Names New Energy Envoy -- Update

TODAY: July 28, 2014 PUB DATE: July 25, 2014

By Amy Harder WASHINGTON--The State Department on Friday named Amos Hochstein as acting special envoy and coordinator for international energy affairs, filling the position at a critical time for the Obama administration's energy diplomacy efforts. The State Department's Bureau of ...

Russia Avoids Slipping Into Recession

TODAY: July 28, 2014 PUB DATE: July 25, 2014

By Lukas I. Alpert MOSCOW--Russia's economy grew 0.1% in the second quarter, meaning the country has avoided slipping into a technical recession, the economy ministry said Friday. Russia's gross domestic product shrank 0.5% in the first quarter as the economy ...